(Answered) The accounts receivable for pastors brewing company on

Finance

The accounts receivable for Pastors Brewing Company on March 31, 2016 was $18,500. Firm sales were roughly evenly split between credit and cash sales, with 40 percent of the credit sales collected in the month after the sale and the remainder 2 months after the sale. Historical and projected sales for the brewing company are given here:

SALES MONTH SALES

$15,000 March $25,000

$20,000 April (projected) $30,000

a. Under these circumstances, what should the balance in accounts receivable be at the end of April? _____$

b. How much cash did Pastors' realize during April from sales and collections? _____$

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